Marriage of Marino CA2/6

FACTS AND PROCEDURAL HISTORY

In 1982, Jim purchased a 30-year-old, 2,400-square-foot, one-story tract home in Santa Barbara. He financed the purchase with a $25,000 bank loan and a

1 All statutory references are to the Family Code. 2 To avoid confusion, we refer to the parties by their first names. $136,590 loan from the sellers. There is no record of the purchase price or downpayment. In late 1985, he obtained another bank loan for $65,000 and the deed of trust on the $136,590 loan was reconveyed. The deed of trust on the $25,000 loan was reconveyed in January 1986. Molly moved into the home in 1986 and the parties married in 1988. Jim was a self-employed attorney and Molly worked for the City of Santa Barbara. After she moved into the house, she began making the monthly mortgage payments from her separate property funds. Following the marriage, the parties maintained their own checking accounts. Molly typically paid the mortgage, property taxes, hazard insurance premiums, utilities and repair expenses from community funds in her account. Occasionally Jim would give her community funds from his law practice checking account. A fire completely destroyed the home in 1990. Jim and…